#bumble | #tinder | #pof Stock Market News: Tesla’s Addition to the S&P 500 Is the Validation of an EV Future | romancescams | #scams



stockholders, the wait is over.

After getting passed over a couple of times, S&P finally tapped Tesla for addition to the

S&P 500.

The stock will be added to the benchmark index on Dec. 21.

Bulls are excited because index addition could be the catalyst Tesla stock needs to break out of its recent range. Tesla shares have traded right around $420 since early September, shortly after dropping from an all-time high of around $500 a share.

Of course, Tesla hit that high mainly because of speculation around its inclusion in the S&P 500, and fell from it after initially being passed over.

Index inclusion is a good thing for Tesla investors. Being included means funds tracking the S&P 500 and related indexes will be buying tens of billions worth of Tesla stock soon. But the company is so large S&P is considering adding Tesla in two tranches, to spread out the impact of index demand. Tesla stock is up 14% to $464.08 in premarket trading.

Don’t miss the bigger picture: Index inclusion is a sign that America’s pre-eminent stock index believes in the future of electric vehicles—and America’s pre-eminent EV maker.

Tesla is here to stay.

Al Root

*** Strauss Zelnick, CEO of Take-Two Interactive, on next generation videogaming and Dan Rosensweig, CEO of Chegg, on the future of online education. Register here for Investing in Tech, this Thursday at 1 p.m.


Moderna’s Vaccine Joined Pfizer and BioNTech. There’s Light, But a Long Tunnel Ahead.

Amid an accelerating surge in Covid-19 infection across the majority of the U.S., there are at least two promising vaccine candidates to look forward to—but the timeline for each are still months away and the contested election could further delay any rollout.

  • The U.S. reported more than a million coronavirus infections in the past week, according to The Wall Street Journal, with hospitalizations also hitting a record.

  • Moderna

    sent stocks soaring Monday after it said early clinical trial results showed its vaccine cut the rate of Covid-19 infections by 94.5%. Last week,


    said its vaccine developed with


    was more than 90% effective.
  • The Pfizer vaccine must be stored long-term at minus 80 degrees Celsius, compared to Moderna’s at minus 20 degrees Celsius. Both vaccines require two doses. The U.S. government has deals with both, at $19.50 a dose for Pfizer, and $25 a dose for Moderna.
  • Former Food and Drug Administration Commissioner Dr. Scott Gottlieb said on CNBC that he believes if the data holds, the pandemic could be over by the end of next year, following the news from Moderna and Pfizer.
  • BioNTech CEO Ugur Sahin told CNBC that their vaccine could start deliveries at the end of this year, or the start of next year. “Our goal is to deliver more than 300 million of vaccine doses until April next year which could allow us to already start to make an impact,” he said.

What’s Next: President-elect Joe Biden warned that President Donald Trump’s refusal to concede, and a lack of communication, could hamper a potential rollout. “How do we get over 300 million Americans vaccinated?” Biden said. “What’s the game plan? It’s a huge, huge, huge undertaking.”

—Connor Smith


Airbnb Offers Details on IPO

Airbnb finally gave Wall Street more information about its initial public offering, and offered a glimpse into how Covid-19 has hurt the home-sharing platform.

  • Airbnb is expected to snag a valuation of roughly $30 billion, according to The Wall Street Journal, citing people familiar with the deal, though that can change. The actual pricing for the IPO will come in future filings. The stock is set to begin trading in December on the Nasdaq with the ticker ABNB.
  • The company said during the first nine months of the year its loss widened to $696.9 million from $322.8 million in the same period in 2019. With cost-cutting efforts, the company had a September quarter profit of $219 million though September quarter revenue declined 18% year-over-year.
  • “Covid-19 has materially adversely affected our recent operating and financial results,” the company said in its filing. It added that “we believe that as the world recovers from this pandemic, Airbnb will be a vital source of economic empowerment for millions of people.”

What’s Next: DoorDash and Bumble are expected to go public in the coming months. Food-delivery service DoorDash is set to begin trading in December, while dating app company Bumble could list in the first quarter of 2021.

Luisa Beltran, Connor Smith


Airline Industry Continues to Struggle as States Warn on Holiday Travel

As states warn against large gatherings and travel over Thanksgiving, airlines continue to reduce their number of flights. Despite positive news on the vaccine front, some industry watchers say it could take years for the travel industry to fully recover.

  • The Centers for Disease Control and Prevention along with several Western states, including California, Oregon, Washington, and New Mexico, have all advised against traveling during Thanksgiving in an effort to curb virus transmission.
  • Airlines have sharply cut flights compared to last holiday season, offering 42% fewer routes this month than in November 2019, The Wall Street Journal reported. After announcing a week ago that it was adding 25 Thanksgiving flights,


    cut more than 50 flights this week, the Cranky Flier reported.

  • Southwest

    is the rare carrier actually expanding into new airports during the pandemic, adding Chicago’s O’Hare airport, Palm Springs, Calif., and Sarasota, Fla.

What’s Next: Positive developments on the vaccine front helped lift airline stocks more than 20% last week. Industry analysts are hopeful for a recovery next year when a vaccine is available. A full recovery in the travel industry could take years, however. 

—Anita Hamilton


Biden Outlines Plan for Getting the Economy Back on Track

President-elect Joe Biden and Vice President-elect Kamala Harris held a virtual meeting with business and union leaders Monday on rebuilding the economy, then gave remarks and answered questions from reporters.

  • Biden and Harris spoke privately with heads of

    General Motors,



    and several unions about ways to “create millions of jobs.” Biden said, “it’s time to reward work, not just wealth in America.” He also said he wouldn’t give government contracts to companies that don’t buy American parts.

  • Creating more affordable housing, establishing a $15 national minimum wage, and supporting renewable energy were among his other priorities. He also voiced support for a House bill offering up to $10,000 in student loan forgiveness, as well as free education for anyone earning under $125,000, and investing in historically black colleges and universities.
  • When asked about the Trump administration’s attempts to block the transition, Biden said, “I find this more embarrassing for the country than debilitating for me.” He added that Harris still receives intelligence briefings, and he has held “a lot of meetings with world leaders.”
  • Biden also criticized some governors, such as those in South Dakota and Oklahoma for encouraging people not to wear masks, calling it “totally irresponsible,” while applauding conservative Republican governors in North Dakota, Ohio, and Utah for their mask mandates.

What’s Next: When asked about his Thanksgiving Day plans, Biden said health experts have advised limiting gatherings to no more than 10 people and that his family members would quarantine in advance and take Covid tests within 24 hours of getting together.

Anita Hamilton


Poland, Hungary Block EU’s $900 Billion Virus Recovery Fund

The Hungarian and Polish governments withdrew on Monday their approval for the launch of the European Union’s €750 billion recovery fund because of legislation that would tie disbursement of the grants and loans to respect of the rule of law by recipient countries.

  • The move by the far-right governments in Warsaw and Budapest comes after months of other EU members’ criticism of measures in both countries subjecting the judiciary to political interference.
  • The principle of an EU €750 billion recovery fund was adopted in July in a decision that would allow a huge amount of joint borrowing by all member states, for the first time in the EU’s history. Proceeds of the fund would go in priority to countries worst hit by the Covid-19 pandemic.
  • The two countries’ decisions also prevent the adoption of the multiyear, €1,100 billion EU budget, which had taken months to negotiate amid deep differences among member states over fiscal discipline and public spending.
  • German Chancellor Angela Merkel, chair of the EU until the end of the year as part of a rotating presidency, is now expected to seek a compromise, since decisions such as joint borrowing must be taken unanimously by the 27 member states.
  • The long-drawn-out dispute over human rights, public freedoms and the rule of law in the two countries has exasperated other governments, with Dutch Prime Minister Mark Rutte wondering aloud in September whether an EU “without Hungary and Poland” would be possible.

What’s Next: Merkel’s task will require all of her diplomatic skills, and then some. Major concessions to the two outliers could infuriate other governments. Some might in turn withdraw their approval of the EU’s recovery fund. Meanwhile Hungary and Poland, major recipients of EU funds, stand to lose much if the gridlock persists.

Pierre Briançon


Think you’re a master stock picker? Join The Barron’s Daily virtual stock exchange challenge and show us your stuff. Each month, we’ll start a new challenge and invite newsletter readers—you!—to build a portfolio using virtual money and compete against the Barron’s and MarketWatch community.

Everyone will start with the same amount and can trade as often or as little as they choose. We’ll track the leaders and, at the end of the challenge, the winner whose portfolio has the most value will be announced in The Barron’s Daily newsletter.

Are you ready to compete? Join the challenge and pick your stocks here.


—Newsletter edited by Stacy Ozol, Anita Hamilton, Mary Romano, Matt Bemer, Ben Levisohn

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